So yet again our dear Chancellor is set to meet with the major lenders and give them a smacked bottom and ten minutes on the naughty step for not lending enough to consumers and businesses. Where they are lending, they are getting shouted at for charging much too much.
The Chancellor is looking really mean and determined this time, and I reckon Ali D will be giving it to them both barrels like a streetwise, no nonsense gangster rapper.
Our very own MD Matt Lowndes emailed me an idea for my blog today which was so nicely written I thought I would just make him my guest writer for today. As my ears are still ringing from seeing the brilliant AC/DC last week, it gives me more recovery time, and keeps with the musical theme. Over to you Matt…
So I spent most of the past weekend wishing I was up to my knees in a field of mud in Somerset, yes Glastonbury was on and as ever I regretted not actually buying a ticket and making the trip. As they say you have to be in it to win it. But I did metaphorically pitch up a tent in my living room and kick back and relax.
One story in particular that caught my eye this week in the industry press was the report that members of Legal & Generals Mortgage Club have “voted overwhelmingly against the use of dual pricing by lenders.” This is all very well, but isn’t it a bit like Turkeys voting against Christmas? (As one of our office wags put it).
If there is one subject that guarantees to raise blood boiling levels for brokers and lenders alike it is the subject of dual pricing. This type of pricing is nothing new, it has been around for years, although mainly it had been in the brokers favour.
You can rely on football fans to eloquently say what everyone else is thinking, and as far as the tube strike is concerned last night was no exception. To most of us working hard and struggling on in the face of redundancies, cuts and pay freezes all over the place, this latest action is a smack in the face for all who live in London.
I know I am meant to write about mortgages and property, but looking round at people gamely walking, cycling and finding any means necessary to get into work shows London’s’ resilience, bombs did not stop us so tube strike pah, and why I love it so much.
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £495.
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